Egypt announced on Sunday that it would raise the minimum wage for private sector employees to 7,000 Egyptian pounds per month (approximately $139.36), effective from March 1. This decision was made during a meeting of the National Wages Council, chaired by the Minister of Planning and Economic Development, Rania Al-Mashat.
اضافة اعلانThe council includes several ministers as well as representatives from labor unions and chambers of commerce.
The Ministry of Planning and Economic Development stated in a press release that this decision, made based on the directives of President Abdel Fattah el-Sisi, aims to improve the standard of living for citizens and comes "in response to economic changes and their impact on the labor market."
Since its introduction in January 2022, the minimum wage in Egypt has gradually increased, from 2,400 pounds, and will reach 6,000 pounds in March 2024.
The minister said that this decision "reflects the government's efforts to respond to current economic developments, which will strengthen economic and social stability."
She added that the review of the minimum wage "aligns with international standards, as the International Labour Organization emphasizes the need for periodic reviews of the minimum wage to protect the purchasing power of families and absorb gradual economic changes."
Earlier, Egyptian Prime Minister Mostafa Madbouly discussed the government's intention to approve a new social protection package, which will include increases in salaries and pensions.
(Exchange rate: 1 USD = 50.2300 Egyptian pounds)
